Entrepreneurs’ Forum Chairman Nigel Mills comments on GDP Estimates

Posted on the 26 July 2017

Nigel Mills, Chairman of
the Entrepreneurs’ Forum, which represents more than 300 high-growth North East
businesses with a combined turnover in excess of £2.3 billion and more than
23,000 employees, commented on today’s estimate of 0.3% GDP growth between
April and June, saying: “While this is not the level of GDP growth achieved
after the country pulled out of the last financial crisis, considering the
unexpected political and economic variables of the day, they can be interpreted
positively.

“By supporting scale-up
businesses, and those with high growth potential, the Government could bring
about a boost in economic growth that would return growth to its pre-referendum
levels, perhaps even exceed it. If just 1% of businesses were to scale up it
would add an estimated £225 billion to the UK’s economy, which would be
particular positive for the North East where jobs and growth are most needed.”